>

Development charges raised for residential sites

By Charlene Chin

/ EdgeProp Singapore |

August 31, 2021 8:12 PM SGT

Join our Telegram channel and follow our Facebook for the latest update.

SINGAPORE (EDGEPROP) - The Singapore government has raised the development charge (DC) rates for sites zoned for residential use, with charges for residential non-landed use rising by 10.9% on average, and residential landed use increasing by 6.3% on average.

For residential non-landed use, DC rate hikes are the highest (19%) in Sector 16 and 107, which covers the Chinatown, Duxton, Cantonment Road, Upper Thomson Road, Lentor Avenue and Ang Mo Kio Avenue 6 areas, among others.

Altogether, there are 118 geographical sectors in the city-state.

The charges are effective for the period Sept 1, 2021, to Feb 28, 2022, and are reviewed every six months by the Ministry of National Development, in consultation with the chief valuer at the Inland Revenue Authority of Singapore.

The development charge is a tax that is levied when planning permission is granted to carry out development projects that increase the value of the land, such as when the site is rezoned to a use of higher value, or the plot ratio is increased.

DC rates for commercial use fell by 0.7% on average, while DC rates for the use groups of hotel/hospital, industrial, place of worship/civic and community institution, open space, agriculture, and roads/railways remain the same.

Tags:

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Kingsford sells 30% of units at The Hill @ One-North, with average price of $2,595 psf

2

Residential transactions with contracts dated April 2 to 9 [DONE DEALS]

3

The Hillshore sells three units by placement at an average price of $2,626 psf

4

Zion Road residential site triggered for sale at a minimum bid price of $604.57 mil

5

Resale condo prices in the CCR climb 3.7% q-o-q in 1Q2024: OrangeTee & Tie

Our Site

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.